Business Equipment & Supplies

Category: Industry Averages Base Ticker: 0327.HK

Methodology: Industry metrics are calculated using the Top 100 companies by revenue within the industry. Values shown represent averages, not aggregates, and are winsorized at the 80/20 percentile to reduce the impact of extreme outliers. All financials are USD-normalized and intended to reflect the core economic structure of the industry.

Industry Enterprise Value

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Stock Price	4.36	4.85	4.46	4.02	4.75	3.99	5.36	6.06	6.41	6.34	7.07	5.58	4.82	4.14	3.77	4.28	3.37	4.16	6.49	6.98	7.53	5.96	6.22	8.07	8.10	7.04	7.28	12.53	15.65	11.21	8.79
Market Capitalization	636.90M	383.23M	435.15M	404.21M	465.54M	385.89M	481.83M	454.28M	510.26M	652.05M	682.19M	455.56M	404.90M	346.00M	288.62M	338.62M	264.96M	235.24M	447.43M	487.48M	650.80M	442.60M	746.80M	933.14M	1,118.42M	1,014.23M	1,021.19M	673.07M	1,420.97M	489.45M	351.79M
(-) Cash & Equivalents	79.61M	87.31M	69.14M	86.43M	89.24M	66.94M	70.13M	70.22M	58.24M	48.89M	51.62M	38.66M	43.85M	45.87M	49.21M	50.23M	31.78M	26.52M	28.61M	23.81M	39.32M	19.45M	37.03M	50.74M	41.46M	28.43M	29.28M	31.69M	18.20M	15.92M	19.08M
(+) Total Debt	93.35M	45.40M	48.08M	61.75M	51.30M	52.72M	70.31M	71.99M	56.82M	47.10M	36.28M	34.14M	37.56M	38.37M	40.40M	51.47M	55.22M	58.96M	59.04M	89.78M	126.76M	89.15M	142.61M	408.15M	381.08M	339.63M	243.10M	169.39M	122.55M	77.60M	55.73M
Enterprise Value	663.94M	377.06M	427.65M	413.33M	462.53M	394.47M	468.00M	486.42M	533.58M	616.74M	667.71M	437.25M	414.73M	383.29M	298.89M	367.76M	283.04M	278.99M	478.29M	520.49M	719.50M	488.07M	875.52M	1,191.85M	1,411.92M	1,220.54M	1,234.65M	980.65M	1,581.49M	532.11M	372.22M

Industry Income Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Revenue	443.168M	325.389M	336.720M	381.556M	336.842M	277.754M	327.141M	310.159M	279.406M	264.531M	255.921M	222.702M	224.206M	343.155M	292.500M	318.448M	247.021M	359.390M	446.905M	607.997M	800.408M	557.303M	880.951M	1,370.418M	1,702.320M	1,647.039M	1,526.765M	1,001.194M	870.622M	440.500M	473.288M
Cost of Revenue	304.375M	224.331M	249.531M	264.585M	226.228M	182.584M	232.418M	202.034M	189.370M	172.789M	170.170M	137.509M	158.438M	213.830M	195.364M	193.332M	169.000M	222.456M	303.507M	403.929M	520.124M	355.388M	604.530M	868.744M	1,079.781M	993.928M	972.700M	576.408M	498.203M	231.477M	268.654M
Gross Profit	138.794M	101.058M	87.189M	116.972M	110.615M	95.171M	94.723M	108.125M	90.036M	91.741M	85.751M	85.194M	65.767M	129.325M	97.136M	125.117M	78.021M	136.934M	143.398M	204.068M	280.284M	201.915M	276.421M	501.673M	622.540M	653.111M	554.065M	424.785M	372.420M	209.023M	204.634M
Gross Margin	31.32%	31.06%	25.89%	30.66%	32.84%	34.26%	28.95%	34.86%	32.22%	34.68%	33.51%	38.25%	29.33%	37.69%	33.21%	39.29%	31.58%	38.10%	32.09%	33.56%	35.02%	36.23%	31.38%	36.61%	36.57%	39.65%	36.29%	42.43%	42.78%	47.45%	43.24%
R&D Expenses	5.324M	7.394M	8.175M	8.396M	7.413M	5.759M	7.131M	6.046M	5.895M	4.986M	5.389M	4.098M	3.805M	2.314M	0.382M	0.406M	0.000M	0.103M	0.092M	0.076M	1.128M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	1.188M	0.783M	0.885M	0.000M
SG&A Expenses	59.520M	44.929M	51.464M	48.752M	42.883M	36.315M	52.671M	46.795M	43.757M	40.291M	43.073M	33.881M	35.824M	29.990M	17.058M	15.838M	14.225M	24.235M	16.693M	29.050M	152.708M	57.481M	233.469M	341.049M	431.164M	391.475M	344.802M	231.405M	205.513M	81.781M	98.122M
Operating Expenses	64.845M	52.323M	59.639M	57.148M	50.296M	42.075M	59.802M	52.842M	49.652M	45.277M	48.463M	37.979M	39.630M	32.304M	17.441M	16.244M	14.225M	24.338M	16.785M	29.126M	153.837M	57.481M	233.469M	341.049M	431.164M	391.475M	344.802M	232.592M	206.296M	82.666M	98.122M
Operating Income	73.949M	48.735M	27.550M	59.824M	60.319M	53.096M	34.921M	55.283M	40.384M	46.464M	37.288M	47.214M	26.138M	97.021M	79.696M	108.873M	63.796M	112.596M	126.613M	174.942M	126.448M	144.434M	42.953M	160.624M	191.376M	261.636M	209.263M	192.193M	166.124M	126.357M	106.513M
Operating Margin	16.69%	14.98%	8.18%	15.68%	17.91%	19.12%	10.67%	17.82%	14.45%	17.56%	14.57%	21.20%	11.66%	28.27%	27.25%	34.19%	25.83%	31.33%	28.33%	28.77%	15.80%	25.92%	4.88%	11.72%	11.24%	15.89%	13.71%	19.20%	19.08%	28.68%	22.50%
Interest Income	2.084M	1.319M	1.564M	0.896M	0.581M	0.677M	0.547M	0.492M	0.580M	0.390M	0.468M	0.501M	0.334M	0.484M	0.369M	0.223M	0.349M	0.382M	0.333M	0.152M	0.161M	0.227M	0.121M	0.138M	0.266M	0.339M	0.234M	0.173M	0.117M	0.206M	0.000M
Interest Expense	3.297M	2.560M	1.734M	2.346M	1.565M	1.446M	1.886M	1.982M	1.443M	1.570M	1.122M	1.111M	1.204M	1.266M	1.341M	1.388M	1.664M	2.127M	1.568M	2.171M	2.649M	1.319M	1.193M	1.584M	1.918M	1.812M	1.870M	1.135M	1.114M	1.630M	1.211M
Net Interest Income	-1.213M	-1.241M	-0.170M	-1.451M	-0.984M	-0.769M	-1.338M	-1.490M	-0.863M	-1.181M	-0.653M	-0.610M	-0.871M	-0.782M	-0.972M	-1.166M	-1.315M	-1.745M	-1.235M	-2.018M	-2.488M	-1.092M	-1.072M	-1.446M	-1.652M	-1.473M	-1.636M	-0.962M	-0.997M	-1.424M	-1.211M
Other Income / Expense	-46.910M	-17.582M	-0.606M	-37.286M	-42.000M	-39.285M	-2.163M	-28.910M	-14.387M	-13.221M	-6.322M	-21.632M	-2.498M	-77.230M	-58.534M	-91.926M	-55.197M	-87.920M	-98.427M	-149.958M	-87.353M	-128.449M	-2.147M	-118.070M	-86.529M	-142.532M	-108.312M	-127.210M	-114.552M	-82.892M	-69.614M
Pre-Tax Income	25.826M	29.912M	26.774M	21.087M	17.335M	13.042M	31.420M	24.883M	25.134M	32.063M	30.313M	24.972M	22.769M	19.008M	20.190M	15.782M	7.284M	22.931M	26.951M	22.966M	36.607M	14.893M	39.734M	41.108M	103.195M	117.631M	99.315M	64.021M	50.576M	42.041M	35.687M
Pre-Tax Margin	5.83%	9.19%	7.95%	5.53%	5.15%	4.70%	9.60%	8.02%	9.00%	12.12%	11.84%	11.21%	10.16%	5.54%	6.90%	4.96%	2.95%	6.38%	6.03%	3.78%	4.57%	2.67%	4.51%	3.00%	6.06%	7.14%	6.50%	6.39%	5.81%	9.54%	7.54%
Income Tax Expense	6.453M	6.455M	5.740M	5.881M	3.146M	3.249M	5.585M	6.120M	5.830M	6.657M	8.616M	5.928M	5.968M	6.026M	4.805M	4.084M	2.709M	6.717M	8.986M	11.570M	13.372M	7.992M	17.909M	15.293M	38.338M	45.923M	33.925M	25.903M	18.804M	14.690M	12.461M
Tax Rate	24.99%	21.58%	21.44%	27.89%	18.15%	24.91%	17.78%	24.60%	23.20%	20.76%	28.42%	23.74%	26.21%	31.70%	23.80%	25.88%	35.00%	29.29%	33.34%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	34.16%	35.00%	35.00%	34.94%	34.92%
Net Income	19.372M	23.458M	21.034M	15.205M	14.189M	9.792M	25.835M	18.763M	19.304M	25.406M	21.697M	19.044M	16.801M	12.982M	15.385M	11.698M	4.575M	16.214M	17.966M	11.396M	23.234M	6.901M	21.825M	25.815M	64.857M	71.709M	65.389M	38.118M	31.772M	27.351M	23.226M
Net Margin	4.37%	7.21%	6.25%	3.99%	4.21%	3.53%	7.90%	6.05%	6.91%	9.60%	8.48%	8.55%	7.49%	3.78%	5.26%	3.67%	1.85%	4.51%	4.02%	1.87%	2.90%	1.24%	2.48%	1.88%	3.81%	4.35%	4.28%	3.81%	3.65%	6.21%	4.91%
EBIT	73.949M	48.735M	27.550M	59.824M	60.319M	53.096M	34.921M	55.283M	40.384M	46.464M	37.288M	47.214M	26.138M	97.021M	79.696M	108.873M	63.796M	112.596M	126.613M	174.942M	126.448M	144.434M	42.953M	160.624M	191.376M	261.636M	209.263M	192.193M	166.124M	126.357M	106.513M
Depreciation & Amortization	9.972M	14.845M	14.432M	14.478M	14.597M	13.592M	13.222M	11.342M	10.897M	8.511M	7.751M	7.936M	9.366M	10.703M	10.511M	13.123M	11.523M	15.358M	14.363M	16.434M	23.697M	17.487M	52.557M	70.934M	84.923M	74.587M	63.350M	38.343M	34.108M	16.717M	15.235M
EBITDA	83.921M	63.581M	41.982M	74.302M	74.916M	66.687M	48.143M	66.625M	51.281M	54.976M	45.038M	55.151M	35.503M	107.723M	90.206M	121.996M	75.319M	127.954M	140.976M	191.377M	150.144M	161.921M	95.509M	231.558M	276.299M	336.223M	272.613M	230.536M	200.232M	143.074M	121.748M
EBITDA Margin	18.94%	19.54%	12.47%	19.47%	22.24%	24.01%	14.72%	21.48%	18.35%	20.78%	17.60%	24.76%	15.84%	31.39%	30.84%	38.31%	30.49%	35.60%	31.54%	31.48%	18.76%	29.05%	10.84%	16.90%	16.23%	20.41%	17.86%	23.03%	23.00%	32.48%	25.72%
NOPAT	55.470M	38.219M	21.644M	43.138M	49.374M	39.867M	28.714M	41.686M	31.016M	36.817M	26.689M	36.006M	19.287M	66.265M	60.727M	80.701M	41.468M	79.613M	84.400M	113.713M	82.191M	93.882M	27.919M	104.406M	124.394M	170.063M	137.780M	124.925M	107.981M	82.206M	69.321M
NOPAT Margin	12.52%	11.75%	6.43%	11.31%	14.66%	14.35%	8.78%	13.44%	11.10%	13.92%	10.43%	16.17%	8.60%	19.31%	20.76%	25.34%	16.79%	22.15%	18.89%	18.70%	10.27%	16.85%	3.17%	7.62%	7.31%	10.33%	9.02%	12.48%	12.40%	18.66%	14.65%
Owner's Earnings	29.344M	38.303M	35.467M	29.683M	28.786M	23.384M	39.057M	30.105M	30.201M	33.917M	29.447M	26.980M	26.166M	23.685M	25.896M	24.821M	16.098M	31.572M	32.328M	27.830M	46.931M	24.388M	74.381M	96.749M	149.780M	146.296M	128.740M	76.461M	65.880M	44.068M	38.461M
Owner's Earnings Margin	6.62%	11.77%	10.53%	7.78%	8.55%	8.42%	11.94%	9.71%	10.81%	12.82%	11.51%	12.11%	11.67%	6.90%	8.85%	7.79%	6.52%	8.78%	7.23%	4.58%	5.86%	4.38%	8.44%	7.06%	8.80%	8.88%	8.43%	7.64%	7.57%	10.00%	8.13%
EPS	0.07	0.10	0.09	0.06	0.06	0.04	0.10	0.07	0.08	0.11	0.10	0.09	0.08	0.06	0.07	0.06	0.03	0.09	0.10	0.07	0.13	0.04	0.13	0.12	0.25	0.28	0.25	0.16	0.15	0.12	0.10
EPS (Diluted)	0.07	0.10	0.09	0.06	0.06	0.04	0.10	0.07	0.08	0.11	0.10	0.09	0.08	0.06	0.07	0.06	0.03	0.09	0.10	0.07	0.13	0.04	0.13	0.12	0.25	0.28	0.25	0.16	0.15	0.12	0.10
Shares (Diluted)	274,434,735	238,399,902	243,503,950	244,132,839	235,947,901	236,910,171	257,079,855	251,923,429	236,226,660	239,617,018	222,632,260	209,827,138	203,275,464	222,780,475	211,036,956	197,195,681	176,872,316	170,776,324	181,535,707	157,781,442	173,970,710	194,439,101	171,328,273	216,997,014	256,039,780	256,933,036	257,075,401	244,159,713	215,793,882	223,875,323	243,300,765

Industry Balance Sheet

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Cash & Cash Equivalents	79.61M	87.31M	69.14M	86.43M	89.24M	66.94M	70.13M	70.22M	58.24M	48.89M	51.62M	38.66M	43.85M	45.87M	49.21M	50.23M	31.78M	26.52M	28.61M	23.81M	39.32M	20.33M	37.03M	50.74M	41.46M	28.43M	29.28M	31.69M	18.20M	15.92M	19.08M
Short-Term Investments	28.76M	13.35M	28.06M	20.14M	8.14M	20.64M	16.08M	6.46M	7.72M	14.41M	4.27M	4.14M	5.95M	10.82M	5.31M	7.41M	3.61M	5.73M	2.56M	0.75M	1.62M	2.10M	0.62M	4.19M	3.41M	5.03M	1.10M	2.71M	1.40M	1.53M	0.80M
Cash & Short-Term Investments	108.38M	100.67M	97.20M	106.57M	97.37M	87.58M	86.21M	76.68M	65.96M	63.31M	55.89M	42.80M	49.80M	56.69M	54.51M	57.63M	35.39M	32.25M	31.16M	24.56M	40.94M	22.43M	37.64M	54.93M	44.88M	33.47M	30.38M	34.40M	19.59M	17.45M	19.88M
Net Receivables	118.07M	69.49M	68.92M	78.54M	73.75M	55.90M	70.73M	65.11M	59.57M	60.50M	55.71M	50.90M	49.74M	52.06M	32.72M	44.73M	33.79M	43.32M	85.10M	108.43M	128.70M	59.71M	64.50M	175.09M	197.39M	226.78M	175.03M	79.56M	157.07M	54.11M	49.91M
Inventory	83.03M	61.27M	59.77M	67.31M	62.41M	46.75M	53.34M	57.00M	51.13M	48.41M	49.74M	41.42M	40.83M	41.12M	39.17M	34.12M	29.99M	38.79M	43.53M	47.29M	68.20M	47.12M	51.73M	121.18M	118.09M	124.04M	110.57M	75.08M	71.05M	52.67M	54.33M
Other Current Assets	8.32M	8.07M	8.97M	11.73M	12.88M	8.73M	13.28M	21.22M	21.33M	14.50M	11.96M	9.48M	9.60M	9.05M	16.77M	12.78M	9.61M	8.23M	19.40M	24.76M	39.69M	22.80M	28.54M	54.82M	49.58M	51.28M	54.96M	37.01M	31.84M	26.14M	22.75M
Total Current Assets	317.80M	239.50M	234.86M	264.16M	246.41M	198.96M	223.55M	220.01M	198.00M	186.72M	173.30M	144.61M	149.97M	158.92M	143.17M	149.26M	108.78M	122.59M	179.18M	205.04M	277.53M	152.07M	182.41M	406.02M	409.93M	435.57M	370.94M	226.06M	279.55M	150.36M	146.87M
Property, Plant & Equipment	116.21M	87.07M	94.18M	100.57M	92.41M	80.47M	80.00M	67.79M	61.71M	61.00M	57.19M	50.78M	54.75M	79.13M	50.23M	60.60M	53.48M	70.26M	82.80M	102.94M	160.26M	110.58M	243.60M	381.70M	430.83M	433.33M	456.94M	270.09M	242.12M	121.25M	122.96M
Goodwill	15.90M	17.10M	20.35M	23.87M	22.49M	21.11M	31.55M	36.61M	25.80M	26.44M	17.80M	7.24M	13.66M	15.69M	13.23M	15.25M	3.84M	16.68M	42.82M	15.67M	9.77M	2.90M	2.90M	0.00M	0.00M	0.00M	0.00M	24.13M	21.93M	10.88M	0.30M
Intangible Assets	16.78M	14.47M	14.74M	16.56M	16.01M	13.81M	14.31M	13.51M	13.56M	13.00M	15.57M	8.84M	8.03M	10.98M	13.55M	13.93M	10.22M	11.88M	13.51M	24.49M	45.10M	19.74M	76.84M	102.95M	69.87M	66.67M	32.56M	4.75M	18.71M	4.65M	14.51M
Long-Term Investments	31.29M	14.92M	20.52M	13.06M	11.88M	10.50M	8.54M	10.18M	10.91M	14.00M	6.71M	4.08M	3.43M	4.43M	1.59M	1.41M	1.07M	0.25M	0.46M	1.22M	11.88M	0.00M	0.09M	2.53M	21.89M	0.80M	-10.80M	-3.55M	-1.26M	-1.94M	-0.96M
Tax Assets	7.21M	5.27M	3.81M	5.35M	4.53M	4.78M	3.66M	3.31M	3.21M	3.03M	2.50M	2.67M	1.50M	2.80M	3.09M	2.83M	3.66M	1.55M	2.20M	2.54M	4.04M	7.29M	4.38M	5.36M	19.66M	15.72M	12.08M	4.39M	5.46M	5.75M	3.65M
Other Non-Current Assets	15.09M	13.98M	8.16M	13.12M	15.58M	13.92M	7.00M	8.86M	9.95M	7.38M	7.55M	8.25M	9.35M	7.28M	15.45M	14.24M	11.57M	9.99M	16.41M	17.79M	33.62M	23.25M	13.67M	113.71M	123.40M	105.05M	51.66M	14.31M	40.99M	14.70M	10.26M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	202.50M	152.81M	161.75M	172.52M	162.90M	144.60M	145.06M	140.27M	125.14M	124.85M	107.32M	81.85M	90.72M	120.30M	97.13M	108.27M	83.83M	110.60M	158.21M	164.64M	264.67M	163.76M	341.48M	606.24M	665.64M	621.57M	542.45M	314.14M	327.96M	155.28M	150.71M
Total Assets	520.30M	392.31M	396.60M	436.68M	409.30M	343.56M	368.61M	360.27M	323.14M	311.57M	280.62M	226.46M	240.69M	279.22M	240.30M	257.53M	192.61M	233.19M	337.39M	369.68M	542.19M	315.83M	523.90M	1,012.26M	1,075.58M	1,057.15M	913.39M	540.19M	607.51M	305.65M	297.58M
Accounts Payable	76.64M	47.18M	44.34M	56.73M	59.13M	41.81M	53.33M	49.72M	41.45M	38.35M	37.18M	31.99M	30.54M	27.96M	26.43M	30.16M	24.30M	33.81M	44.78M	60.71M	78.03M	32.27M	48.56M	92.99M	92.96M	103.84M	123.99M	80.11M	75.07M	50.33M	57.58M
Short-Term Debt	44.34M	20.43M	21.10M	21.62M	20.18M	19.58M	20.16M	16.05M	17.06M	15.39M	14.22M	12.26M	10.29M	7.48M	12.63M	11.99M	8.52M	19.51M	17.90M	30.41M	43.89M	25.85M	92.40M	152.80M	113.87M	82.93M	42.03M	36.91M	22.75M	36.29M	25.77M
Tax Payables	0.07M	3.55M	2.32M	3.62M	4.11M	2.56M	3.22M	4.08M	3.78M	3.99M	3.09M	2.91M	3.16M	2.51M	2.60M	2.47M	1.88M	1.67M	2.09M	2.21M	4.77M	2.94M	0.37M	0.95M	1.81M	0.25M	0.85M	0.76M	0.75M	1.28M	0.86M
Deferred Revenue	2.95M	0.00M	1.83M	9.19M	15.88M	10.76M	10.51M	7.79M	9.81M	8.78M	7.87M	5.03M	4.81M	4.86M	7.21M	6.61M	4.95M	3.81M	4.84M	7.63M	12.26M	7.69M	0.87M	8.34M	4.07M	0.00M	1.79M	4.47M	1.14M	1.05M	1.90M
Other Current Liabilities	25.70M	27.33M	27.35M	15.36M	14.98M	9.36M	22.90M	21.34M	19.40M	19.17M	17.92M	14.17M	20.67M	23.55M	16.32M	14.92M	14.65M	17.78M	13.21M	25.13M	35.67M	21.12M	25.57M	26.92M	34.29M	186.62M	105.73M	22.73M	64.48M	15.53M	16.22M
Total Current Liabilities	149.70M	98.50M	96.95M	106.52M	114.27M	84.08M	110.13M	98.98M	91.49M	85.68M	80.27M	66.36M	69.46M	66.36M	65.21M	66.15M	54.30M	76.58M	82.81M	126.09M	174.62M	89.88M	167.78M	282.00M	247.00M	373.64M	274.40M	144.99M	164.20M	104.47M	102.33M
Long-Term Debt	49.46M	16.70M	18.22M	28.79M	17.04M	17.14M	22.09M	22.05M	22.96M	19.14M	16.73M	9.21M	16.54M	22.51M	23.36M	27.53M	28.43M	30.78M	26.98M	43.52M	79.88M	55.45M	93.62M	158.11M	197.96M	225.83M	190.81M	137.45M	95.21M	47.01M	29.17M
Capital Lease Obligations	0.70M	4.72M	4.49M	6.10M	6.86M	3.70M	1.89M	0.43M	0.25M	0.09M	0.00M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	3.66M	3.04M	3.44M	3.29M	1.74M	1.61M	2.59M	2.08M	2.17M	1.34M	3.36M	1.85M	2.04M	0.99M	1.35M	3.66M	1.67M	4.55M	6.16M	8.22M	9.23M	5.51M	3.97M	11.22M	17.04M	19.22M	16.31M	11.55M	11.49M	11.03M	9.62M
Other Non-Current Liabilities	17.02M	5.92M	5.40M	8.55M	8.87M	5.18M	7.07M	6.12M	7.05M	9.08M	10.32M	6.69M	7.97M	6.08M	5.68M	8.65M	7.15M	11.88M	14.45M	16.35M	33.38M	11.50M	63.52M	97.66M	107.04M	88.37M	69.22M	48.02M	32.03M	3.03M	5.42M
Total Non-Current Liabilities	70.85M	30.38M	31.55M	46.74M	34.51M	27.63M	33.64M	30.67M	32.43M	29.66M	30.41M	17.75M	26.58M	29.58M	30.40M	39.84M	37.24M	47.21M	47.59M	68.08M	122.48M	72.46M	161.12M	267.00M	322.04M	333.43M	276.33M	197.03M	138.74M	61.07M	44.21M
Total Liabilities	220.55M	128.87M	128.50M	153.26M	148.78M	111.71M	143.77M	129.66M	123.92M	115.33M	110.68M	84.11M	96.04M	95.94M	95.60M	105.99M	91.54M	123.79M	130.40M	194.18M	297.11M	162.34M	328.90M	548.99M	569.04M	707.07M	550.73M	342.01M	302.93M	165.54M	146.54M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	54.30M	40.83M	40.50M	41.91M	41.14M	34.21M	37.65M	36.67M	34.23M	32.74M	31.36M	28.66M	30.47M	28.96M	27.89M	29.50M	24.59M	25.12M	26.77M	28.66M	42.57M	35.08M	51.16M	91.51M	100.15M	97.88M	96.33M	24.09M	21.96M	15.91M	13.06M
Retained Earnings	153.72M	152.71M	142.99M	165.07M	156.90M	88.00M	140.78M	143.49M	144.67M	137.60M	121.76M	97.47M	103.97M	101.41M	87.43M	85.58M	74.07M	77.25M	83.20M	68.87M	165.61M	146.15M	199.32M	405.99M	506.06M	471.56M	426.65M	174.66M	322.14M	115.03M	104.96M
Accumulated OCI	92.12M	11.58M	7.14M	10.86M	8.38M	4.85M	5.26M	5.46M	9.69M	6.67M	10.26M	0.60M	-2.57M	0.00M	0.00M	-0.79M	-0.17M	-0.01M	0.00M	0.00M	0.00M	0.00M	-1.25M	-5.97M	-10.04M	-10.45M	-5.44M	-13.24M	-17.90M	-2.88M	-5.92M
Minority Interest	2.48M	1.42M	1.91M	2.24M	2.20M	1.84M	1.28M	1.85M	1.62M	1.68M	1.92M	1.28M	1.22M	0.97M	1.02M	1.15M	1.04M	1.27M	1.20M	1.06M	1.08M	1.76M	1.58M	2.04M	1.38M	1.09M	6.42M	5.62M	3.23M	3.67M	0.04M
Total Shareholders’ Equity	300.14M	205.13M	190.64M	217.85M	206.42M	127.06M	183.68M	185.63M	188.59M	177.01M	163.38M	126.73M	131.91M	130.37M	115.32M	114.29M	98.49M	102.37M	109.97M	97.54M	208.19M	181.23M	249.23M	491.53M	596.17M	559.00M	517.53M	185.51M	326.20M	128.06M	112.10M
Total Equity	302.62M	206.55M	192.55M	220.09M	208.62M	128.90M	184.96M	187.48M	190.21M	178.69M	165.30M	128.01M	133.13M	131.34M	116.34M	115.43M	99.53M	103.63M	111.16M	98.60M	209.27M	182.99M	250.81M	493.57M	597.55M	560.09M	523.95M	191.13M	329.43M	131.72M	112.14M
Total Liabilities & Equity	523.17M	335.42M	321.05M	373.35M	357.40M	240.61M	328.73M	317.14M	314.13M	294.02M	275.98M	212.12M	229.16M	227.28M	211.94M	221.42M	191.07M	227.43M	241.57M	292.78M	506.38M	345.32M	579.71M	1,042.56M	1,166.59M	1,267.15M	1,074.68M	533.14M	632.36M	297.27M	258.67M
Tangible Assets	487.61M	360.74M	361.51M	396.25M	370.81M	308.63M	322.75M	310.15M	283.78M	272.12M	247.26M	210.38M	219.00M	252.55M	213.52M	228.35M	178.54M	204.63M	281.05M	329.53M	487.33M	293.19M	444.16M	909.31M	1,005.70M	990.48M	880.83M	511.31M	566.86M	290.12M	282.77M
Tangible Equity	269.94M	174.98M	157.46M	179.66M	170.12M	93.97M	139.11M	137.36M	150.85M	139.25M	131.94M	111.93M	111.44M	104.67M	89.56M	86.25M	85.47M	75.08M	54.82M	58.44M	154.40M	160.35M	171.07M	390.62M	527.68M	493.42M	491.39M	162.24M	288.78M	116.20M	97.33M
Tangible Book Value	269.94M	174.98M	157.46M	179.66M	170.12M	93.97M	139.11M	137.36M	150.85M	139.25M	131.94M	111.93M	111.44M	104.67M	89.56M	86.25M	85.47M	75.08M	54.82M	58.44M	154.40M	160.35M	171.07M	390.62M	527.68M	493.42M	491.39M	162.24M	288.78M	116.20M	97.33M
Total Investments	58.58M	19.92M	37.65M	18.80M	15.10M	13.52M	12.70M	12.09M	13.54M	17.50M	7.34M	6.68M	5.01M	7.80M	6.74M	8.03M	7.58M	6.26M	8.06M	6.49M	22.74M	10.12M	2.90M	14.85M	32.20M	24.22M	36.75M	9.63M	0.31M	0.20M	0.35M
Net Debt	14.18M	-50.17M	-29.82M	-36.02M	-52.02M	-30.22M	-27.87M	-32.12M	-18.23M	-14.37M	-20.67M	-17.19M	-17.02M	-15.88M	-13.21M	-10.71M	5.16M	23.77M	16.27M	50.11M	84.44M	60.97M	148.99M	260.17M	270.37M	280.33M	203.56M	142.67M	99.77M	67.38M	35.86M

Industry Capital

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Working Capital	138.82M	143.69M	153.15M	139.93M	141.03M	109.49M	115.77M	123.29M	113.62M	102.93M	106.65M	88.08M	86.15M	96.53M	96.76M	92.33M	61.77M	79.05M	55.60M	57.23M	115.54M	28.78M	79.11M	-6.65M	101.91M	101.78M	94.86M	127.00M	143.76M	53.97M	48.77M
Total Capital	440.83M	333.21M	343.34M	340.56M	314.92M	285.81M	320.93M	316.11M	283.78M	262.14M	240.69M	204.82M	205.31M	213.74M	187.55M	189.29M	166.03M	200.94M	230.70M	261.30M	431.89M	302.48M	500.84M	843.61M	858.97M	818.16M	706.61M	539.80M	426.47M	221.59M	196.32M
Capital Employed	518.62M	352.83M	373.07M	367.44M	368.54M	297.13M	328.79M	337.95M	255.22M	247.26M	296.85M	185.27M	211.17M	287.14M	208.24M	203.81M	189.13M	195.73M	287.67M	284.30M	502.00M	259.18M	562.91M	813.23M	970.26M	950.51M	765.43M	578.13M	539.93M	205.20M	187.14M
Invested Capital	361.22M	245.90M	274.20M	254.13M	225.68M	218.86M	250.80M	245.88M	225.54M	213.24M	189.07M	166.16M	161.46M	167.87M	138.34M	139.06M	134.24M	174.42M	202.09M	237.49M	392.57M	282.15M	463.81M	792.87M	817.51M	789.72M	677.33M	508.11M	408.27M	205.67M	177.24M

Industry Cash Flow Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Depreciation & Amortization	7.33M	14.86M	15.72M	15.85M	15.17M	13.13M	12.58M	11.27M	10.12M	8.60M	7.76M	7.96M	9.35M	10.75M	10.49M	13.11M	12.44M	16.08M	14.32M	16.45M	25.58M	19.31M	55.24M	70.93M	84.92M	74.59M	63.34M	38.34M	45.27M	22.29M	42.24M
Deferred Income Tax	0.00M	0.00M	0.00M	-0.15M	-0.04M	-0.20M	-0.14M	-0.03M	-0.08M	-0.11M	-0.09M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.25M	-0.04M	0.82M	0.47M	0.19M	-0.20M	2.71M	0.27M	-5.40M
Stock-Based Compensation	0.00M	0.00M	0.01M	0.13M	0.05M	0.11M	0.09M	0.01M	0.03M	0.01M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-5.63M	-0.75M	-0.75M	-11.33M	-3.54M	-0.02M	-1.58M	-6.36M	-4.81M	-2.50M	-6.72M	-3.44M	-2.25M	-5.39M	-5.26M	-0.16M	2.98M	-0.65M	-3.60M	-4.46M	-7.86M	-5.62M	4.21M	9.68M	-6.82M	3.12M	4.15M	-20.18M	-8.26M	-1.09M	-8.39M
Accounts Receivable	0.03M	0.91M	-1.84M	-1.37M	-1.72M	3.02M	-2.62M	-5.33M	-1.63M	-1.59M	-3.54M	-3.49M	-1.98M	-0.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-13.13M
Inventory	-1.45M	1.69M	-0.43M	-5.17M	-3.43M	-0.07M	-0.34M	-3.75M	-2.67M	-1.26M	-4.41M	-0.96M	-0.51M	-2.54M	-4.61M	-0.45M	3.32M	-2.31M	-1.46M	-2.08M	-4.02M	-2.00M	3.35M	5.30M	3.67M	4.51M	4.30M	-3.25M	1.19M	-3.51M	-4.34M
Accounts Payable	0.01M	0.03M	1.64M	3.43M	3.29M	-1.72M	2.40M	4.38M	2.18M	1.26M	1.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-0.06M	0.15M	-0.35M	-1.68M	-0.16M	-0.83M	-0.83M	-1.64M	-3.33M	-0.87M	-3.02M	-0.42M	-2.24M	-2.44M	-1.12M	-0.85M	-1.50M	2.04M	-1.85M	-2.76M	-3.19M	-7.26M	6.52M	2.20M	-5.64M	5.35M	-6.17M	-16.36M	-1.80M	-1.72M	9.08M
Other Non-Cash Items	5.93M	2.51M	0.55M	1.89M	3.87M	2.28M	-0.27M	-0.19M	0.19M	0.24M	-0.05M	-0.84M	-0.19M	0.21M	-0.41M	0.75M	0.39M	0.63M	-1.66M	1.18M	-0.27M	2.62M	11.45M	21.33M	2.77M	-0.67M	4.62M	4.03M	-3.19M	-4.07M	-4.16M
Net Cash from Operating Activities	30.96M	40.43M	36.20M	28.65M	29.36M	33.91M	40.39M	31.98M	32.68M	33.02M	28.32M	22.56M	25.06M	20.96M	24.86M	23.97M	22.86M	21.02M	30.33M	30.77M	46.32M	34.04M	58.98M	129.04M	149.03M	177.27M	127.79M	57.80M	66.47M	50.85M	82.46M
Capital Expenditures (PPE)	-14.40M	-11.44M	-13.99M	-15.31M	-13.45M	-14.26M	-15.01M	-13.42M	-16.18M	-11.74M	-11.23M	-10.65M	-10.20M	-12.06M	-10.38M	-8.69M	-8.32M	-14.83M	-18.84M	-18.47M	-24.15M	-14.50M	-37.35M	-57.24M	-72.18M	-84.44M	-99.87M	-66.99M	-63.38M	-67.08M	-74.32M
Acquisitions (Net)	0.19M	0.01M	-1.09M	-0.59M	-1.14M	-0.04M	-1.61M	-0.86M	0.04M	-1.48M	-1.73M	-0.25M	-0.33M	-0.60M	-0.19M	-0.24M	-0.02M	-1.56M	-2.38M	-0.49M	-9.68M	-0.50M	-0.88M	-0.77M	-10.19M	-16.60M	0.00M	1.97M	-0.04M	-0.10M	-0.05M
Purchases of Investments	-6.20M	-8.09M	-7.83M	-14.52M	-8.50M	-13.53M	-17.21M	-22.77M	-18.13M	-3.85M	-2.13M	-1.82M	-1.42M	-1.24M	-3.36M	-0.89M	-1.56M	-0.96M	-1.04M	-0.99M	-1.06M	-1.16M	-5.78M	-4.52M	-1.18M	-3.51M	0.00M	-7.12M	0.00M	0.00M	-2.90M
Sales / Maturities of Investments	9.83M	6.96M	9.96M	12.13M	13.42M	10.41M	18.26M	20.74M	13.28M	2.84M	5.49M	2.44M	1.91M	0.75M	0.51M	0.87M	0.74M	1.21M	0.71M	0.46M	1.97M	0.40M	1.34M	1.22M	15.94M	7.65M	2.55M	0.60M	0.00M	4.13M	0.00M
Other Investing Activities	0.21M	0.64M	0.75M	0.90M	1.49M	0.26M	-0.07M	0.24M	-0.34M	0.87M	0.14M	0.34M	0.76M	0.44M	0.33M	-0.10M	0.55M	0.76M	2.15M	1.63M	1.97M	0.86M	1.23M	-7.11M	-7.45M	-5.91M	-7.91M	3.92M	-34.11M	5.19M	22.54M
Net Cash from Investing Activities	-23.12M	-13.88M	-15.25M	-15.92M	-11.31M	-19.25M	-17.94M	-18.11M	-21.08M	-28.57M	-18.59M	-10.44M	-11.74M	-15.20M	-13.45M	-8.87M	-8.52M	-16.45M	-18.43M	-19.79M	-44.86M	-16.46M	-41.91M	-91.06M	-94.53M	-91.82M	-100.31M	-85.57M	-105.61M	-64.79M	-54.73M
Net Debt Issuance	-0.49M	-4.38M	-0.55M	3.03M	-0.71M	0.17M	-1.88M	1.43M	2.51M	2.03M	-0.43M	-1.36M	-1.62M	-0.15M	-0.20M	-3.52M	-2.27M	-1.07M	-2.34M	-2.33M	-5.54M	-10.78M	-16.07M	-2.15M	-4.24M	23.49M	0.43M	9.07M	10.24M	9.70M	7.57M
Long-Term Debt Issuance	-1.13M	-2.61M	-0.87M	1.78M	-1.28M	-0.05M	-2.09M	1.74M	2.95M	1.76M	-0.20M	-1.31M	-1.26M	-0.10M	0.14M	-1.21M	1.13M	-0.61M	-1.10M	-0.72M	13.03M	-7.98M	-11.52M	-13.03M	-6.18M	13.50M	5.89M	-4.85M	10.24M	5.61M	-0.58M
Short-Term Debt Issuance	-0.90M	0.00M	-0.06M	-0.23M	-0.17M	-0.02M	0.00M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.13M	-0.17M	0.00M	0.00M	-0.22M	-1.09M	-3.35M	0.00M	0.00M	0.00M	0.00M	0.00M	0.05M	0.00M	0.00M	0.00M
Net Stock Issuance	-0.02M	-1.56M	-0.42M	-0.99M	-0.30M	-0.08M	-0.01M	-0.12M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	-0.62M	-0.87M	-0.20M	0.01M	-0.08M	0.38M	0.13M	0.12M	-0.14M	-10.92M	-6.94M	-2.22M	0.38M	-6.73M	-10.65M
Common Stock Issuance	0.00M	0.01M	0.00M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.03M	0.20M	0.16M	0.79M	0.44M	1.03M	0.37M	0.17M	0.68M	1.84M	0.32M	4.13M	0.49M	0.86M
Common Stock Repurchased	-0.02M	-2.14M	-0.71M	-1.90M	-0.61M	-0.22M	-0.82M	-0.72M	0.00M	0.00M	0.00M	-0.01M	0.00M	0.00M	-0.01M	-0.05M	-0.70M	-0.88M	-0.34M	-0.22M	-0.82M	-0.01M	-0.01M	-1.02M	-4.88M	-11.78M	-10.14M	-3.11M	-1.32M	-7.57M	-11.51M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-6.80M	-12.51M	-9.28M	-9.82M	-6.77M	-6.94M	-9.13M	-8.99M	-7.83M	-6.23M	-4.68M	-3.89M	-5.51M	-4.27M	-3.56M	-4.45M	-3.27M	-4.23M	-3.90M	-4.42M	-10.58M	-4.48M	-11.22M	-19.16M	-20.86M	-19.76M	-20.91M	-10.35M	-16.76M	-7.76M	-20.05M
Common Dividends Paid	-6.80M	-12.51M	-9.42M	-9.37M	-7.02M	-7.52M	-9.37M	-8.83M	-7.92M	-6.21M	-4.60M	-3.88M	-5.52M	-4.27M	-3.56M	-4.37M	-3.28M	-4.23M	-4.17M	-4.42M	-10.58M	-4.47M	-11.22M	-19.24M	-20.86M	-19.76M	-20.91M	-10.35M	-16.76M	-7.76M	-20.05M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-6.18M	-2.51M	-2.55M	-1.30M	-1.36M	-1.02M	-1.68M	-0.44M	0.31M	1.70M	2.11M	-0.17M	-0.09M	-0.30M	-0.04M	0.17M	-0.12M	-0.02M	0.36M	0.25M	-0.80M	0.03M	3.68M	4.41M	1.71M	0.68M	0.02M	5.85M	0.99M	2.91M	0.36M
Net Cash from Financing Activities	-20.00M	-23.66M	-18.31M	-12.05M	-12.39M	-7.95M	-11.15M	-7.07M	-8.97M	-3.52M	-6.15M	-6.89M	-8.29M	-3.76M	-3.64M	-9.87M	-5.62M	-9.02M	-4.49M	-8.13M	-20.84M	-19.93M	-50.88M	-23.57M	-37.57M	-36.44M	-28.60M	26.50M	8.10M	2.99M	-22.78M
Effect of FX on Cash	1.86M	0.38M	0.45M	0.51M	0.00M	-0.30M	0.02M	0.10M	-0.37M	-0.13M	-0.01M	0.00M	0.15M	-0.06M	-0.04M	0.02M	-0.11M	-0.25M	0.02M	0.51M	0.06M	-0.01M	-1.20M	-0.19M	0.56M	-0.66M	-3.76M	-2.85M	0.42M	-12.78M	0.27M
Net Change in Cash	2.85M	-0.69M	0.87M	3.22M	3.34M	9.74M	3.05M	6.74M	3.60M	5.18M	3.81M	2.70M	2.60M	0.69M	3.69M	9.08M	4.36M	1.01M	4.45M	-0.65M	1.89M	13.77M	8.35M	6.89M	7.53M	1.83M	-4.56M	-10.07M	-0.39M	-4.10M	5.22M
Cash at Beginning of Period	57.51M	67.61M	81.91M	70.13M	72.82M	57.69M	67.34M	56.70M	46.61M	44.87M	41.49M	36.93M	40.19M	47.09M	47.73M	35.49M	24.26M	25.84M	21.63M	29.19M	41.87M	36.30M	25.94M	32.65M	25.31M	26.82M	35.27M	41.56M	8.55M	5.05M	10.56M
Cash at End of Period	91.86M	85.14M	76.06M	82.88M	76.76M	63.20M	68.25M	68.50M	56.54M	46.46M	50.59M	37.66M	43.19M	45.24M	51.69M	51.41M	33.37M	25.97M	28.51M	23.08M	42.71M	19.29M	37.47M	47.74M	37.97M	25.22M	22.83M	-7.33M	11.81M	-8.62M	15.78M
Operating Cash Flow	31.00M	40.43M	36.25M	28.65M	29.39M	33.91M	40.39M	31.98M	32.68M	33.02M	28.32M	22.56M	25.06M	20.96M	24.86M	23.97M	22.86M	21.02M	30.33M	30.77M	46.32M	34.04M	58.98M	129.04M	149.03M	177.27M	127.79M	57.80M	66.47M	50.85M	82.46M
Capital Expenditure	-13.85M	-13.09M	-13.35M	-15.32M	-13.45M	-12.79M	-15.02M	-13.43M	-16.18M	-11.74M	-11.24M	-10.66M	-10.21M	-12.08M	-10.44M	-8.69M	-8.32M	-14.81M	-18.76M	-18.47M	-24.15M	-15.31M	-37.35M	-57.24M	-72.18M	-84.44M	-99.87M	-66.99M	-63.38M	-67.08M	-74.32M
Free Cash Flow	24.77M	20.52M	17.70M	11.70M	13.37M	16.36M	18.09M	16.02M	11.30M	18.54M	14.09M	11.78M	13.03M	8.11M	14.63M	15.46M	10.83M	13.30M	8.71M	22.49M	20.80M	19.58M	39.37M	68.69M	68.92M	93.05M	30.80M	-9.57M	13.61M	-7.33M	8.15M

Industry Free Cash Flow

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
EBITDA	42.53M	43.31M	46.78M	43.92M	42.92M	32.82M	47.53M	43.16M	38.48M	40.92M	41.99M	33.24M	33.77M	32.54M	32.74M	27.48M	24.88M	33.36M	43.72M	50.29M	88.40M	43.90M	91.04M	147.04M	223.55M	203.03M	217.46M	133.13M	115.87M	59.98M	51.83M
(-) Tax Adjustment	10.63M	9.34M	10.03M	12.25M	7.79M	8.18M	8.45M	10.62M	8.93M	8.50M	11.93M	7.89M	8.85M	10.32M	7.79M	7.11M	9.26M	9.77M	14.58M	25.34M	32.29M	23.56M	41.04M	54.70M	83.05M	79.26M	74.28M	53.87M	43.08M	20.96M	18.10M
(-) Change In Working Capital	-5.63M	-0.75M	-0.75M	-11.33M	-3.54M	-0.02M	-1.58M	-6.36M	-4.81M	-2.50M	-6.72M	-3.44M	-2.25M	-5.39M	-5.26M	-0.16M	2.98M	-0.65M	-3.60M	-4.46M	-7.86M	-5.62M	4.21M	9.68M	-6.82M	3.12M	4.15M	-20.18M	-8.26M	-1.09M	-8.39M
(-) Capital Expenditure	13.85M	13.09M	13.35M	15.32M	13.45M	12.79M	15.02M	13.43M	16.18M	11.74M	11.24M	10.66M	10.21M	12.08M	10.44M	8.69M	8.32M	14.81M	18.76M	18.47M	24.15M	15.31M	37.35M	57.24M	72.18M	84.44M	99.87M	66.99M	63.38M	67.08M	74.32M
Unlevered Free Cash Flow	23.68M	21.62M	24.16M	27.68M	25.22M	11.87M	25.64M	25.47M	18.19M	23.18M	25.53M	18.14M	16.97M	15.54M	19.77M	11.84M	4.32M	9.43M	13.98M	10.95M	39.82M	10.66M	8.45M	25.42M	75.15M	36.20M	39.16M	32.46M	17.68M	-26.97M	-32.20M
(-) Net Interest Income After Taxes	-0.91M	-0.97M	-0.13M	-1.05M	-0.81M	-0.58M	-1.10M	-1.12M	-0.66M	-0.94M	-0.47M	-0.46M	-0.64M	-0.53M	-0.74M	-0.86M	-0.83M	-1.23M	-0.82M	-1.00M	-1.58M	-0.51M	-0.59M	-0.91M	-1.04M	-0.90M	-1.08M	-0.57M	-0.63M	-0.93M	-0.79M
Net Debt Issuance	-0.49M	-4.38M	-0.55M	3.03M	-0.71M	0.17M	-1.88M	1.43M	2.51M	2.03M	-0.43M	-1.36M	-1.62M	-0.15M	-0.20M	-3.52M	-2.27M	-1.07M	-2.34M	-2.33M	-5.54M	-10.78M	-16.07M	-2.15M	-4.24M	23.49M	0.43M	9.07M	10.24M	9.70M	7.57M
Levered Free Cash Flow	24.10M	18.21M	23.74M	31.76M	25.32M	12.62M	24.86M	28.02M	21.36M	26.15M	25.57M	17.24M	15.99M	15.92M	20.31M	9.18M	2.88M	9.59M	12.47M	9.62M	35.86M	0.38M	-7.04M	24.18M	71.94M	60.58M	40.67M	42.10M	28.55M	-16.34M	-23.84M